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Financial News: Eurozone Retail Sales Rise First Time In 4

Eurozone Retail Sales Rise First Time In 4 Months

11/08/2022 - 05:41:00 (RTTNews)

(RTTNews) - Euro area retail sales grew for the first time in four months in September, and continued to be led by the mail order and internet sale segment, preliminary data from the statistical office Eurostat showed Tuesday.

Retail sales rose 0.4 percent from August, when they stagnated, which was revised from a 0.3 percent fall. The increase was in line with economists' expectations.

Sales of food, drinks and tobacco grew 0.4 percent following a 0.7 percent slump in the previous month. Non-food product sales, excluding those of automotive fuel, rose 1.0 percent after a 0.2 percent gain in the previous month.

Mail orders and internet sales rebounded with growth of 2.6 percent after a 4.1 percent fall in August.

Automotive fuel sales decreased 0.6 percent after a 2.1 percent gain in the previous month.

Compared to the same month last year, Eurozone retail sales decreased for a fourth straight month in September.

Retail sales shrunk 0.6 percent after a 1.4 percent decline in August, which was revised from a 2.0 percent drop. Economists had forecast a 1.3 percent fall.

Among the main categories, only automotive fuel sales registered growth, up 3.7 percent.

Food and beverages, and the mail order and internet sales segments registered declines of 2.4 percent and 2.5 percent, respectively.

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